Meritas Wealth Management LLC Takes $368,000 Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Meritas Wealth Management LLC purchased a new position in Palantir Technologies Inc. (NASDAQ:PLTR) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,870 shares of the company’s stock, valued at approximately $368,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its stake in shares of Palantir Technologies by 10.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,880,610 shares of the company’s stock worth $72,963,000 after acquiring an additional 278,544 shares in the last quarter. Edgestream Partners L.P. bought a new position in shares of Palantir Technologies during the second quarter valued at approximately $350,000. Mercer Global Advisors Inc. ADV lifted its holdings in shares of Palantir Technologies by 18.8% during the second quarter. Mercer Global Advisors Inc. ADV now owns 189,550 shares of the company’s stock valued at $4,728,000 after purchasing an additional 30,030 shares during the last quarter. Amalgamated Bank boosted its position in shares of Palantir Technologies by 5.0% in the 2nd quarter. Amalgamated Bank now owns 135,982 shares of the company’s stock worth $3,444,000 after purchasing an additional 6,472 shares in the last quarter. Finally, Blair William & Co. IL grew its stake in shares of Palantir Technologies by 18.4% in the 2nd quarter. Blair William & Co. IL now owns 61,927 shares of the company’s stock worth $1,569,000 after buying an additional 9,623 shares during the last quarter. Institutional investors own 45.65% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PLTR. The Goldman Sachs Group lifted their price objective on Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. William Blair reaffirmed an “underperform” rating on shares of Palantir Technologies in a research report on Wednesday, December 18th. Raymond James downgraded shares of Palantir Technologies from an “outperform” rating to a “market perform” rating in a research report on Monday, September 23rd. Baird R W raised shares of Palantir Technologies to a “hold” rating in a report on Thursday, December 12th. Finally, Bank of America increased their price target on shares of Palantir Technologies from $55.00 to $75.00 and gave the company a “buy” rating in a report on Monday, November 25th. Seven equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $43.78.

Insiders Place Their Bets

In related news, insider Alexander C. Karp sold 3,337,048 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $45.02, for a total transaction of $150,233,900.96. Following the completion of the transaction, the insider now directly owns 6,432,258 shares in the company, valued at approximately $289,580,255.16. The trade was a 34.16 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Lauren Elaina Friedman Stat sold 10,721 shares of the stock in a transaction on Friday, December 6th. The stock was sold at an average price of $76.78, for a total value of $823,158.38. Following the completion of the sale, the director now owns 100,923 shares of the company’s stock, valued at $7,748,867.94. The trade was a 9.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,642,189 shares of company stock worth $1,444,232,453 over the last quarter. 12.93% of the stock is currently owned by corporate insiders.

Palantir Technologies Stock Up 3.7 %

Shares of NASDAQ:PLTR opened at $71.77 on Monday. The stock has a market capitalization of $163.49 billion, a PE ratio of 358.87, a price-to-earnings-growth ratio of 6.24 and a beta of 2.82. The firm’s 50 day moving average price is $70.49 and its 200-day moving average price is $47.32. Palantir Technologies Inc. has a twelve month low of $16.03 and a twelve month high of $84.80.

Palantir Technologies (NASDAQ:PLTR) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. The firm had revenue of $725.52 million during the quarter, compared to the consensus estimate of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The company’s revenue for the quarter was up 30.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.03 EPS. Analysts expect that Palantir Technologies Inc. will post 0.2 earnings per share for the current fiscal year.

Palantir Technologies Company Profile

Palantir Technologies, Inc engages in the business of building and deploying software platforms that serve as the central operating systems for its customers. It operates under the Commercial and Government segments. The Commercial segment focuses on customers working in non-government industries. The Government segment is involved in providing services to customers that are the United States government and non-United States government agencies.